Legacy Investing & Wealth Management Market Mondays – 7/4/17

My blog brought to you by Legacy Investing & Wealth Management gives you a quick and easy read focusing on stock market education, empowering the newer investor as well as giving you the most recent stock market analysis. For more information including past blogs please go to www.LegacyInvesting.net; look for the Market Mondays tab under “The Legacy” for all blogs.

There are many ways to invest and it’s important to be diversified in your strategy. I thought I was doing a pretty good job of that until my eyes were opened to other ways of investing. As you invest it’s important to also have a network of likeminded people around you as trading can get lonely and make you feel you’re on a deserted island. Garland Dabney, one of my friends from church and also a Howard University grad (HU, You Know!) became an investment partner and recently schooled me on Bitcoin.

Bitcoin is a form of virtual decentralized currency founded in 2008 and is used for electronic purchases and transfers. Similar to using a credit card for online shopping, Bitcoin can be used the same way with businesses that accept Bitcoin as payment. The difference is the middle man is gone meaning there are no transaction fees as you would have with banks and credit card companies. Many large companies worldwide are beginning to accept Bitcoin as payment and it’s widely considered the currency of the future. Here is a video link that explains it in layman’s terms – https://www.youtube.com/watch?v=LuA3xb-L8r8.

People also trade Bitcoin as they would a stock or currency and because it’s in its infancy stage, many people have made (or lost) enormous amounts of money. As of the time of this blog Bitcoin is trading over $2,500 per Bitcoin. Here is a chart for the past year and you’ll see what I’m talking about lol.

Those who invested in January of this year at around $1,000 and sold in June at $3,000 were extremely excited. Or even better, think about those who bought at around $200 per Bitcoin in January of 2015 and sold recently! The extraordinary run-up this year was mainly due to countries in Asia beginning to accept Bitcoin (along with speculative trading) and that trend should continue worldwide. You cannot trade Bitcoin in a regular brokerage account but there are ways to do it. If you decide to trade this you should start small and be disciplined due to the wild price fluctuations. Contact me for more information.

The S&P 500 ended yesterday’s session at 2429 up slightly since the last blog at the end of May. The market has basically moved sideways over the last month waiting on direction. Since November, any sideways movements have resolved themselves by eventually moving higher and making new all-time highs.

The world economy has been improving and the large US banks all recently passed their stress tests which had not happened since before the global financial crisis. Interest rates have been moving higher with more rate hikes to come and the massive central bank money printing operation (Quantitative Easing) which helped the US recovery is coming to an end. Rising interest rates are a sign of a stronger economy and this helps to curb inflation. Stock markets can continue moving higher as this happens but higher rates do eventually hurt corporate profits. The proposed tax reform which will help just about all corporations is another reason why I think US stocks will keep moving higher into next year. There will be small corrections along the way but unless something drastic happens investors are looking for more gains in the quarters ahead.

Please visit our website at www.LegacyInvesting.net and contact us today for a FREE consultation on becoming financially fit and learning how to make money investing in the financial markets. You can make money in ANY type of market (bull or bear). When we meet I’ll give you more information about our services and find out what your financial goals are. If I can help you, we can move forward; if not, no problem but I’m always just a phone call away from any questions or quick advice you want. Get your finances in shape this year! Let’s connect and build generational wealth together. Enjoy your holiday and have a prosperous week ahead!

Disclaimer – Legacy Investing & Wealth Management LLC or any of its advisers are not liable in any way for any losses incurred through trading by readers of this weekly blog. Any information or strategies of trading suggested here involve risk of capital loss and this weekly blog is not considered investment advice. Individuals who invest in securities are solely and completely responsible for any and every outcome that may occur.

About legacyinvesting2015

Doug Hayes has always had a mindset of entrepreneurship and wealth building. He started his first business (a community newspaper called “Doug’s Monthly”) at 12 years old. Having always shown an interest with numbers and budgetary management, Doug pursued a Bachelor of Business Administration degree at Howard University, graduating in 1996. By the age of 23, he bought his first house and by 25 he was running his own successful limousine and sedan service in the Detroit, MI area.
Doug invested in more real estate beginning in 2006, then in 2008 he saw many good companies substantially undervalued in the stock market because of the financial crisis. It was absolute panic so he took a chance on a few companies, knowing we would eventually come out of the recession and made a profit. He educated himself on investing in the stock market through continuous research and surrounding himself with other traders. He took control of his own 401K and established an IRA account by transferring old 401K’s into it. This gave him flexibility to use various strategies to yield better returns.
Doug's own finances have seen highs and lows so he designed a budget system he calls The Roadmap to Financial Freedom. This system helped him to stay focused in paying down debt, saving money, and planning for an early retirement.
Seeing an absence of financial literacy in our society coupled with his Christian roots, Doug developed a passion for helping others become successful in financial management. Through the experience he’s gained trading the stock market, he wants to help people develop a road map for building generational wealth. He says "many people have a misconception of the stock market because of their lack of knowledge, but it has proven to be the biggest wealth creator known to man." With Doug’s 20-plus years of experience in financial management, customer service and sales, he wants to educate and help you create a legacy that can be passed down for generations to come.
Contact Legacy Investing & Wealth Management today for a free consultation.